Base10 Partners, based in San Francisco (investors in Nubank, Plaid, and Brex), led the investment, which also included Helios Digital Ventures, Shopify, Partech, and Khosla Ventures.
With the additional capital, the startup promised to create payment options tailored to the particular services that companies offer. By doing this, they will be able to close any holes in their payment procedures and work more productively to provide exceptional client service.
The start-up, formerly known as Kudi, was established in 2016 by Yinka Adewale and Pelumi Aboluwarin as a chatbot intended to make payments easier. It transformed into a business in 2018 with distinctive point-of-sale (POS) technologies, relationships with banks and other licensed financial institutions democratized access to banking products and services for merchants across Nigeria.
